South Korea launches first criminal probe into domestic Polymarket users over illegal gambling

South Korean police have opened their first criminal probe into domestic users of Polymarket, examining whether participation in the prediction market platform constitutes illegal gambling under local law. Reports say the investigation was initiated for users in South Korea and involves authorities led by the Gangwon Provincial Police at the request of the National Police Agency ^{[1] [2] [3]}.

Multiple outlets report that South Korean law treats betting on platforms other than Sports Toto as illegal, and that those found to have violated the relevant provisions may face fines of up to 10 million won under Article 246 of the South Korea Criminal Act. Coverage also highlights that Polymarket markets tied to South Korea’s June 3 local elections reportedly drew substantial betting volumes ^{[1] [2]}.

The probe marks South Korea’s first known criminal investigation into domestic Polymarket users, with authorities assessing alleged violations of the country’s gambling rules ^[4].